Consider Compensation When Choosing an Executor in Pennsylvania

When choosing an executor for your Pennsylvania estate, keep in mind that the executor is entitled to compensation for the work that they do on behalf of the administration of the estate.

Executor Fees in PA Generally Include:

• 2.5% of the assets of the estate that are collected;
• 2.5% the value of the assets distributed; and
• 0.4% of the total value of the estate in such instances that the estate is invested for some period of time.

In most cases, in which the assets are collected and distributed fairly quickly, the executor’s fees are locked in at 5% of the value of the total estate.

This PA executor fee may be adjusted based on the:

• total value of the estate;
• complexity of its administration;
• total time required to discharge executorial duties;
• degree of care upheld; and
• so on and so forth.

At the conclusion of an estate, the beneficiaries approve the executor compensation. In such cases that there is a disagreement or the beneficiary is legally incompetent, the courts approve the compensation.

Contacting a Pennsylvania Probate Lawyer

If you have questions about executor fees in PA, wish to contest the compensation of an executor for an estate of which you were a beneficiary, or have decided to appoint a Pennsylvania probate lawyer as your executor, reach out to the law offices of Unruh, Turner, Burke & Frees – 1-610-933-8069.

References:

http://www.gilmoreandgilmore.com/areas-of-practice/estate-and-personal-planning/wills/executor-duties/#2

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